My company has just developed a new sports drink that is in a container which will keep it cool for up to 6 hours.
I'm looking for 6-8 paragraphs to help make this clear...
How you would market the product?
These are some of the topics I came up with that perhaps you could touch on with some references...
Market summary, Market demographics, Market needs, Market trends, Market growth, pros and cons, and I guess a strategic concept to make this work...© BrainMass Inc. brainmass.com October 10, 2019, 5:54 am ad1c9bdddf
See the attached file.
Some general ideas and approaches are provided within basic marketing theory. Really, given the present state of market research in this field, such an invention would do extremely well. See the .doc below.
Marketing a Self-Cooling Sports Drink
There are so many approaches it's tough to know where to start. I think the best beginning here is to go to the major texts of marketing theory and ideas, and see what fits the specific market of this particular drink. In other words, I'll split this up into three parts: the first the foundations, the second, the particular application and the third, to the more specific niche.
Foundations of Marketing
Let's start with the basics. We might reduce marketing to several concepts. The first is "value." This deals with consumer preferences as well as the constant trade offs between the price of a product and the satisfaction received. Like always, this is meant to hover at an equilibrium that the consumer market will bear.
Second, the concept of "promotion." This is about packaging and offering a product that makes it different from competitors, or at the very least, offers a more or less substitutable brand of something at a lower price. Outside of the "hardcore" fans of one brand, this should provide, all other things being equal, a response from your target market.
Third, the basic concept of a "product." Here, we can be talking about several things. We can talk about differentiation, where one brand shows how different it is from the others. We can talk about quality, where one brand is made better than others. We can talk about niches, where a product might be customized for a specific sub-group like the very wealthy (luxury ...
The solution assists with marketing a product.